Corporate Announcements On The Bse

INSIDER TRADING NOTICES

Ranbaxy Laboratories: In terms of regulation 13(6) of Sebi, (insider trading) regulations 1997, the company has informed that J M Khanna, president (R&D) and wholetime director has sold 1000 shares on 08/07/2002.

ADF Foods: In terms of regulation of Sebi, (insider trading ) regulations 2002, the company has informed that American Foods (I) Ltd is holding 518259 (5.18 per cent) shares of the company.

Polar Industries: In terms of regulation 13 of Sebi, (insider trading ) regulation, 1992, the company has informed that M K Rustagi is holding 9572 (0.09 per cent) equity shares.

NOTICES UNDER TAKEOVER CODE

 

Murudeshwar Ceramics: In terms of regulation 7(3) of Sebi, (substantial acquisition of shares and takeovers ) regulations 1997, the company has informed that Satish R. Shetty has acquired 1400000 (9.32 per cent) shares on 03/07/2002. after this acquisition his shareholding in the company is 3482297 (23.18 per cent) shares in the company.

Sundram Fasteners: In terms of regulation 8(3) of Sebi, (substantial acquisition of shares and takeovers) regulations 1997, the company has informed that T V Sundram Iyengar & Sons Ltd is holding 2665600 shares and Southern Roadways Ltd, is holding 2538664 shares and TVS family members and other persons holding 55276 equity shares in the company as on 20/06/2002.

PEOPLE ON THE MOVE

Polaris Software Lab: V Balaraman has been inducted onto the board of the company. He will join in the capacity of a director.

HMT: Consequent upon relinquishing of the charge of chairman & managing director, tractors, by R A Sharma on July 04, 2002, M S Zahed, director, organisation & management, has taken additional charge of the post of chairman & managing director, tractors.

Interface Financial Services: Himal K Parikh has been appointed as managing director with effect from July 01, 2002 for a period of five years without any remuneration. Himal K Parikh is a promoting director and on the board of Interface Financial Services since incorporation.

Bharat Electronics: P R K Haragopal has taken charge as director (finance) on 05.07.02.

BOARD MEETS

Ranbaxy Laboratories: The board of directors at its meeting scheduled to be held on July 18, 2002 will consider issue of bonus shares.

Sheetal Securities Finance: A meeting of the board of directors is scheduled to be held on July 17, 2002 to consider the following: Increase in authorised share capital of the company; allotment of equity shares of the company to the shareholders of Yash Estate & Developers Pvt Ltd for consideration otherwise than cash ie in exchange of their shareholding in Yash Estate and Developers Pvt. Ltd on Exchange/ swap basis for acquisition of existing business and assets of the said company.

SPECIAL MARGIN

BSE has informed the members of the exchange that special margin in the under mentioned scrip has been imposed with effect from July 10, 2002. The special margin will be imposed on the basis of memberwise gross outstanding purchase or sale position (clientwise net) as indicated below: Godavari Fertilizer and Chemicals, Laffans Petrochemicals, Sabero Organics, Sree Rayalseema Alkalies, Synergy Log In Systems and Vision Technologies India.

OTHERS

Great Eastern Shipping Co: The company has extinguished 938 equity shares of the company pursuant to buy back. Equity capital of the company after the said extinguishment stands reduced to 190327515 shares.

Hindustan Lever: A meeting of equity shareholders to be held on 09/08/2002, as per the order of the High Court of Judicature at Bombay, to approve the scheme of arrangement, for issue of secured fully paid bonus debentures and payment of special dividend. A meeting of the secured creditors and unsecured creditors to be held on 10/08/2002, as per the order of the High Court of Judicature at Bombay, to approve the scheme of arrangement, for issue of secured fully paid bonus debentures and payment of special dividend.

Titan Industries: The register of members & transfer books will remain closed from September 03, 2002 to September 24, 2002 (both days inclusive). The aforesaid book closure will be for the purpose of determining eligibility for payment of dividend on equity shares for the year ended March 31, 2002. The dividend on equity shares if declared at the AGM of the company will be paid to those shareholders whose names appear in the register of members as on September 24, 2002.

VMC Software: The board at its meeting held on 08/07/2002 decided as follows: The preferential allotment made by the board at its meeting held on 21/06/2002 is cancelled. The resolution for preferential issue shall be tabled for shareholders approval at the body meeting to be held on 14/08/2002.

Voltas Ltd: The company has informed that Perfect Moulds (PML) has ceased to be a subsidiary of the company consequent upon allotment of 30,00,000 equity shares of Rs 10 each by PML to Sermo Montaigu, France (Sermo), the joint venture partner on 06/07/2002. The paid up capital of PML of Rs 13 crore is now held in equal proportion of 50:50 i.e. 65,00,000 equity shares of Rs 10 each aggregating Rs 65 lakh each, by the company and Sermo.

Moschip Semiconductor Technology: The board of directors at its meeting on July 10, 2002 transacted the following business: Allotment of 8,24,000 equity shares on preferential basis to APIDC Venture Capital Fund 1990 (1,50,000 shares), N Sri Vishnu Raju (2,57,000), N Shobha Rani (1,94,000), N Suryanarayana Raju (1,94,000), Michael Brewster (29,000).

Infosys Technologies: The compensation committee of the board of directors met on July 09, 2002 and transacted the following business: Allocated an aggregate of 74,300 stock options under the 1999 stock option plan exercisable for equity shares and a total of 46,400 ADS linked stock options under the 1998 ADS stock option plan exercisable for ADSs to the employees of the company, who are found eligible.

United Breweries: The High Court of Karnataka at Bangalore has approved the scheme of arrangement between the company and UB Beer on July 04, 2002.

Gem Spinners India: The BIFR has sanctioned the revival scheme recommended by the operation agency. A copy of the scheme is available with the Corporate Relationship Department of the BSE for inspection.

Ishwar Textiles: The board had decided to divest certain business (printing undertaking) of the company. For this purpose, the shareholders approval was obtained through the postal ballot and a board meeting was held on 08/07/2002 to pass the necessary resolutions and the resolutions was passed.

Maximaa Systems: The company has received an order from Claris Lifesciences for company